Selected comparative financial statements of Tripoly Company follow.

Required

1. Compute trend percents for all components of both statements using 2012 as the base year. (Round percents to one decimal.)

2. Analyze and comment on the financial statements and trend percents from part 1.

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TRIPOLY COMPANY Comparative Income Statements For Years Ended December 31, 2018-2012 2018 2017 2016 2015 Sthousands Sales ... Cost of goods sold . Gross profit..... Operating expenses. Net income .. 2014 2013 2012 $770 350 420 144 $276 $560 $610 $630 290 320 84 $680 $740 $860 380 480 150 $330 276 284 314 340 294 336 112 400 140 366 126 104 $216 $200 $224 $240 $260 TRIPOLY COMPANY Comparative Balance Sheets December 31, 2018-2012 $ thousands 2018 2017 2016 2015 2014 2013 2012 Assets $ 44 $ 46 $ 52 $ 54 $ 60 $ 62 $ 68 Cash. Accounts receivable, net 130 136 140 144 150 154 160 Merchandise inventory.. Other current assets. 166 172 178 180 186 190 208 34 34 36 38 38 40 40 Long-term investments.. 36 30 26 110 110 110 110 Plant assets, net.. 510 514 520 412 420 428 454 Total assets.. $920 $932 $952 $938 $964 $984 $1.040 Liabilities and Equity Current liabilities.. $148 $156 $186 $190 $210 $260 $ 280 Long-term liabilities 92 120 142 148 194 214 260 Common stock . Other paid-in capital. 160 160 160 160 160 160 160 70 70 70 70 70 70 70 Retained earnings. 450 426 394 370 330 280 270 Total liabilities and equity. $920 $932 $952 $938 $964 $984 $1,040